InfoSAWIT, JAKARTA – Indonesia’s crude palm oil (CPO) reference price at PT Kharisma Pemasaran Bersama Nusantara (KPBN) edged higher on Monday, September 21, 2026, even as Malaysian palm oil futures came under renewed pressure from a stronger ringgit, weaker crude oil prices and signs of softer exports.

The KPBN CPO price was set at Rp15,721 per kilogram, up Rp13/kg, or around 0.08 percent, from Rp15,708/kg recorded on Friday, September 18, 2026.

At the KPBN tender, the CPO price at Franco Dumai was also recorded at Rp15,721/kg. Meanwhile, the FOB Talang Duku opening price stood at Rp15,471/kg before a withdrawal, with the highest bid reaching Rp15,466/kg.

At Franco Teluk Bayur, the opening price was Rp15,521/kg before another withdrawal, with the highest bid recorded at Rp15,310/kg.

Malaysian Palm Oil Futures Under Pressure

In Malaysia, the benchmark CPO contract for December 2026 on the Bursa Malaysia Derivatives Exchange extended its decline for a second consecutive session.

According to Reuters, the December contract closed RM41 per tonne lower, or 0.84 percent, at RM4,857 per tonne. The contract had already fallen 0.77 percent in the previous session.

Market sentiment was pressured by a stronger ringgit, which can reduce the attractiveness of palm oil for foreign buyers, while falling crude oil prices added further pressure to the vegetable oil market.

Crude oil prices also slipped to an 11-day low as investors monitored developments surrounding diplomatic efforts related to the Iran conflict and the potential recovery of some oil shipments from Saudi Arabia.

Malaysian Exports Weaken

Export developments also weighed on the palm oil market. Cargo surveyor estimates showed that Malaysian palm oil product shipments during September 1–20 declined by between 12.8 percent and 24.7 percent compared with the corresponding period of the previous month.

The weaker export performance raised concerns over demand for Malaysian palm oil and added pressure to futures prices.

Pressure also came from competing vegetable oils. The most-active soybean oil contract in Dalian slipped 0.11 percent, while palm oil futures on the same exchange fell 0.92 percent. Soybean oil prices on the Chicago Board of Trade also declined 0.45 percent.

Despite the contrasting movements between the Indonesian KPBN reference price and Malaysian futures, the broader market remains sensitive to developments in exports, competing vegetable oils, currencies and energy prices. (T2)

Source: InfoSAWIT, Reuters